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Speaking of Dallas Farmers Market ...
It was exactly one year ago that the Dallas City Council agreed to give Trammell Crow Residential $2,687,500 out of the Farmers Market TIF to expedite the construction of what was then known as the Alexan Farmers Market Project. The city also agreed to "provide funding for the design, engineering, professional services, and construction of public infrastructure improvements" for the guesstimated $47 million project, which, according to last year's Farmers Market TIF District annual report, was expected to bring 330 new residential units to downtown spread over 300,000 square feet located directly across the street from the market and the Camden Farmers Market complex.
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But there's been little news about the project during the last year, and that plot of land remains little more than a weedy, occasionally very muddy overflow parking lot during peak hours. So when I saw the Alexan Farmers Market on the Farmers Market TIF District Board of Directors' meeting agenda for Wednesday, I thought it'd be a good time to catch up its progress. Only ...
"Due to the state of the economy, we're no longer pursuing that site and that project," Darren Schackman, TCR's senior managing director for the North Texas Division, tells Unfair Park today.
"It shouldn't be on the agenda." As it turns out, TRC no longer has the property under contract.
But will TRC revisit the proposed development when circumstances improve? Long pause. Then Schackman says, "We'll certainly keep all options open."